50 U.S. Code § 1601 - Termination of existing declared emergencies

(a)All powers and authorities possessed by the President, any other officer or employee of the Federal Government, or any executive agency, as defined in section
105 of title
5, as a result of the existence of any declaration of national emergency in effect on September 14, 1976, are terminated two years from September 14, 1976. Such termination shall not affect—

(1)any action taken or proceeding pending not finally concluded or determined on such date;

(2)any action or proceeding based on any act committed prior to such date; or

(3)any rights or duties that matured or penalties that were incurred prior to such date.

(b)For the purpose of this section, the words “any national emergency in effect” means a general declaration of emergency made by the President.

Pub. L. 94–412, § 1,Sept. 14, 1976, 90 Stat. 1255, provided: “That this Act [enacting this chapter, amending section
1481 of Title
8, Aliens and Nationality, and section
2667 of Title
10, Armed Forces, repealing section
249 of Title
12, Banks and Banking, section
831d of Title
16, Conservation, section
1383 of Title
18, Crimes and Criminal Procedure, section
211b of Title
42, The Public Health and Welfare, and section 1742 of the Appendix to this title, and enacting provisions set out below] may be cited as the ‘National Emergencies Act’.”

Savings Provision

Pub. L. 94–412, title V, § 501(h),Sept. 14, 1976, 90 Stat. 1258, provided that: “This section [amending section
1481 of Title
8, Aliens and Nationality and section
2667 of Title
10, Armed Forces, and repealing section
249 of Title
12, Banks and Banking, section
831d of Title
16, Conservation, section
1383 of Title
18, Crimes and Criminal Procedure, and section
211b of Title
42, The Public Health and Welfare] shall not affect—

“(1) any action taken or proceeding pending not finally concluded or determined at the time of repeal;

“(2) any action or proceeding based on any act committee prior to repeal; or

“(3) any rights or duties that matured or penalties that were incurred prior to repeal.”